In Q2 2025, Ferrari posted net income of €425m, up 3% y-o-y, with diluted EPS of €2.38 (+4%).

Revenue reached €1.79bn, up 4.4%, driven by brand-related revenue (+22%) and spare parts.

EBITDA rose 6% to €709m (margin: 39.7%), and EBIT came in at €552m (+8%), representing a margin of 30.9%. Industrial free cash flow amounted to €232m over the quarter.

Deliveries remained stable at 3,494 units, with the ramp-up of the 12Cilindri and SF90 XX models offsetting the decline in the 296 GTB and Daytona SP3. Hybrid models now account for 45% of volumes.

Benedetto Vigna, CEO, highlighted strong strategic execution, exceptional demand for the 296 Speciale range and a positive reception for the new Ferrari Amalfi coupé. The group says it has removed the risk related to US tariffs and is increasingly confident in its ability to achieve its 2025 targets.

Ferrari is now aiming for FY revenue of over €7.0bn (+5%), adjusted EBITDA of at least €2.68bn (margin ? 38.3%), adjusted EBIT of at least €2.03bn (margin 29%), adjusted EPS of €8.60 (+2%) and industrial free cash flow of more than €1.20bn (+17%).